In 2016, the Government of Nova Scotia endorsed the Pan-Canadian Framework on Clean Growth and Climate Change, which included a commitment to establish a cap-and-trade program in the province.
As part of this process, Nova Scotia passed amendments to the Environment Act in October 2017 to enable the government to establish the cap-and-trade program and create supporting regulations.
On February 16, 2018, Nova Scotia announced the release of the Quantification, Reporting, and Verification of Greenhouse Gas Emissions Regulations (QRV regulations) and accompanying standards. Collecting and reporting GHG emissions supports the implementation of the province's cap-and-trade program.
The QRV regulations and standards identify which types of companies must report, which GHG emissions they must report, and how to calculate and report them.
The first reports are due May 1. In future years, reports will be due June 1. Companies will have to get their data verified by a third party by September 1 every year.
The QRV regulations state that the following types of companies must report their GHG emissions and get them verified by a third party:
- facilities that generate 50,000 tonnes of GHG emissions or more per year from specified GHG activities, including electricity producers
- petroleum product suppliers that import or produce 200 litres of fuel or more per year for consumption in the Nova Scotia market
- natural gas distributers that deliver natural gas for consumption in Nova Scotia that, when combusted, produces 10,000 tonnes of GHG emissions or more per year
Further details about the new GHG emission reporting regulations, including a copy of the regulations and the standards, are available on the Department of Environment's web site.
CFIB continues to actively engage with the Department of Environment to make sure our members' concerns are understood and taken into account in the development of the cap-and-trade system.
Are you concerned about Nova Scotia's plans for a cap-and-trade system? Make your voice heard! Sign and return this Action Alert to CFIB.